Dec. 28, 2009 (China Knowledge) - Tianjin Equity Exchange launched China's first mining board to help finance small mining companies that have difficulty listing on the stock market.

Reportedly, the Tianjin board simplifies procedures for mining companies to exchange equities to facilitate investors and financiers. The board will operate under "special rules" as massive investments, high risks, long period of funding and slow return of cash flow are features of the mining industry. Companies must have a registered capital of over RMB 1 million to qualify for listing on this board.

A China Mining and New Energy Fund was also launched. Its purpose is to raise RMB 10 billion to invest in precious and nonferrous metals as well as energy minerals globally.

The fund, which is managed by China Mining United Investment Management and has already raised RMB 500 million, will help domestic mining companies acquire overseas assets and invest in the mining, new energy and clean energy sectors. It will also advise clients on equity mergers and initial public offerings.